Wedbush Securities Inc. Boosts Stake in The Sherwin-Williams Company $SHW

Wedbush Securities Inc. grew its stake in shares of The Sherwin-Williams Company (NYSE:SHW) by 192.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,086 shares of the specialty chemicals company’s stock after acquiring an additional 8,608 shares during the quarter. Wedbush Securities Inc.’s holdings in Sherwin-Williams were worth $4,531,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SHW. Cordatus Wealth Management LLC boosted its holdings in shares of Sherwin-Williams by 149.4% during the third quarter. Cordatus Wealth Management LLC now owns 9,588 shares of the specialty chemicals company’s stock worth $3,320,000 after purchasing an additional 5,744 shares during the last quarter. Nordea Investment Management AB boosted its stake in Sherwin-Williams by 16.1% in the 3rd quarter. Nordea Investment Management AB now owns 125,914 shares of the specialty chemicals company’s stock worth $43,536,000 after buying an additional 17,422 shares during the last quarter. Inscription Capital LLC acquired a new stake in Sherwin-Williams in the 3rd quarter worth about $1,069,000. Vanguard Group Inc. grew its holdings in Sherwin-Williams by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 22,328,552 shares of the specialty chemicals company’s stock valued at $7,666,732,000 after buying an additional 246,008 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Sherwin-Williams by 15.0% during the 2nd quarter. Citigroup Inc. now owns 387,966 shares of the specialty chemicals company’s stock valued at $133,212,000 after acquiring an additional 50,582 shares during the last quarter. 77.67% of the stock is currently owned by hedge funds and other institutional investors.

Sherwin-Williams Trading Up 0.7%

Shares of SHW opened at $367.06 on Thursday. The Sherwin-Williams Company has a 12 month low of $308.84 and a 12 month high of $379.65. The stock’s 50-day moving average is $341.53 and its two-hundred day moving average is $345.07. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.87 and a quick ratio of 0.53. The stock has a market cap of $90.99 billion, a PE ratio of 35.74, a P/E/G ratio of 3.15 and a beta of 1.25.

Sherwin-Williams (NYSE:SHW) last announced its earnings results on Thursday, January 29th. The specialty chemicals company reported $2.23 EPS for the quarter, beating the consensus estimate of $2.16 by $0.07. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.57 billion. Sherwin-Williams had a return on equity of 65.26% and a net margin of 10.90%.The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. Equities analysts forecast that The Sherwin-Williams Company will post 12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHW shares. JPMorgan Chase & Co. boosted their target price on shares of Sherwin-Williams from $378.00 to $385.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Vertical Research raised Sherwin-Williams from a “hold” rating to a “buy” rating and set a $371.00 target price on the stock in a research report on Wednesday, January 7th. Citigroup reiterated a “buy” rating on shares of Sherwin-Williams in a report on Monday, January 19th. UBS Group set a $420.00 price target on Sherwin-Williams in a research note on Friday, January 30th. Finally, Deutsche Bank Aktiengesellschaft lowered Sherwin-Williams from a “buy” rating to a “hold” rating and set a $380.00 price objective on the stock. in a research note on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $386.33.

Insider Activity at Sherwin-Williams

In other news, insider Colin M. Davie sold 2,976 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $359.50, for a total value of $1,069,872.00. Following the completion of the transaction, the insider directly owned 5,365 shares in the company, valued at approximately $1,928,717.50. This represents a 35.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Sherwin-Williams Profile

Sherwin-Williams (NYSE: SHW) is a global manufacturer and distributor of paints, coatings and related products. Founded in 1866 and headquartered in Cleveland, Ohio, the company supplies a broad range of coatings for residential, commercial and industrial applications. Its product offering includes architectural paints and stains, industrial and protective coatings, automotive finishes, and a variety of sundry products such as primers, sealants and specialty treatments used by professionals and consumers.

The company sells through multiple channels, including a large network of company-operated retail paint stores that serve professional contractors and do-it-yourself consumers, as well as through distributors and mass retailers.